Stay Away from Fraud—Tips You need to Keep in Mind

Your financial freedom is dependent on three things: your hard work, money management skills, and your shrewdness in detecting and protecting yourself from scams and fraud. Nowadays, fraudsters and scammers are present both online and offline, preying on the un-prepared.  This post shares some essential tips to guide and protect your financial well being:

Deal Only With Those Who You Know

Many scammers and sellers offer various services and product making amazing offers to get the attention of potential buyers. These deals are often too good to be true. The rule of thumb  is that before dealing with anyone, you make sure of their physical existence and know where their physical address is. A name, website and email are just too vague to deserve your time. Make an online search and ensure that they are an existing entity, have been in business for some time, and have an existing clientele.

Keep Regular Checks on Your Statements

Identity theft is one of the most favorite tool of scammers. Scammers steal account information and  use it to charge under your name. If you see any or tiniest bit of abnormality in your statements that doesn’t sit well with you, then it’s time to call and contact your card issuer or creditor immediately.

Shop Safely

Yes! Mobile phones are a great way to make excellent purchases but they pose greater threat to your financial security than desktops. This is because with smartphones, most of us are still lax about online security and it’s easier to fall prey to online frauds. Avoid suspicious websites at all cost. Always check if the website offers secure gateways for transactions, such as an SLS and safe payment gateways. Additionally, check their popularity from Alexa to ensure that they receive regular local traffic.

Remember, your Social Security Number is yours, and this information should never be shared online. Make your passwords long and difficult to avoid possible break-ins. On an ending note those holiday cards may seem too cheerful to be good. These hidden holiday e-cards have all the punch in them to knock you out of the ring for good.

Stay on the Alert with Unsolicited Offers

Any pitch that you receive from a company asking you to invest your money, needs your time to be investigated firsthand. Make sure current financial information is available from independent sources. There are many schemes such as ‘pump and dump’ that want foreign investments and asking for money to be sent abroad. Close them all and never look back.

Destroy All financial Data Residue Before Disposing It Away

Records on computers and electronic devices, receipts in your possession, and carelessly written contact numbers are all clues for scammers to gain an opportunity to get back at you. Hence, it is important that you keep the bare minimum backup of information and destroy any information leading to your personal financial data and which you do not need.